Subprime loan delinquency curve nearly vertical
It is no news flash that subprime borrowers are having trouble paying back their loans, but this graph showing the number of delinquent subprime loans (60 days or more overdue, in this case) is a bit shocking. The curve has gone vertical! Whoops.
In stark contract are the number of delinquent prime loans, which have remained fairly constant.
[via Behind the Mortgage]
Related: Bob Lawless is a downer (if you are the credit industry),Caveat Emptor playlist: the mortgage foreclosure mess explained,Many subprime borrowers qualified for better loans,
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